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Side-by-side financial comparison of Acadia Healthcare Company, Inc. (ACHC) and Cboe Global Markets (CBOE). Click either name above to swap in a different company.
Cboe Global Markets is the larger business by last-quarter revenue ($1.2B vs $821.5M, roughly 1.5× Acadia Healthcare Company, Inc.). Cboe Global Markets runs the higher net margin — 26.0% vs -143.3%, a 169.4% gap on every dollar of revenue. On growth, Cboe Global Markets posted the faster year-over-year revenue change (8.7% vs 6.1%). Cboe Global Markets produced more free cash flow last quarter ($332.1M vs $-179.5M). Over the past eight quarters, Cboe Global Markets's revenue compounded faster (12.2% CAGR vs 3.4%).
Acadia Healthcare Company, Inc. is an American provider of for-profit behavioral healthcare services. It operates a network of over 225 facilities across the United States and Puerto Rico.
Cboe Global Markets, Inc. is an American financial exchange operator headquartered in Chicago. It owns and operates a portfolio of exchanges and trading venues across equities, options, futures, and digital assets.
ACHC vs CBOE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $821.5M | $1.2B |
| Net Profit | $-1.2B | $313.5M |
| Gross Margin | — | 55.7% |
| Operating Margin | -142.4% | 33.5% |
| Net Margin | -143.3% | 26.0% |
| Revenue YoY | 6.1% | 8.7% |
| Net Profit YoY | -3710.4% | 59.5% |
| EPS (diluted) | $-12.98 | $2.97 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $821.5M | $1.2B | ||
| Q3 25 | $851.6M | $1.1B | ||
| Q2 25 | $869.2M | $1.2B | ||
| Q1 25 | $770.5M | $1.2B | ||
| Q4 24 | $774.2M | $1.1B | ||
| Q3 24 | $815.6M | $1.1B | ||
| Q2 24 | $796.0M | $974.0M | ||
| Q1 24 | $768.1M | $957.2M |
| Q4 25 | $-1.2B | $313.5M | ||
| Q3 25 | $36.2M | $300.8M | ||
| Q2 25 | $30.1M | $235.1M | ||
| Q1 25 | $8.4M | $250.6M | ||
| Q4 24 | $32.6M | $196.5M | ||
| Q3 24 | $68.1M | $218.5M | ||
| Q2 24 | $78.5M | $140.4M | ||
| Q1 24 | $76.4M | $209.5M |
| Q4 25 | — | 55.7% | ||
| Q3 25 | — | 53.0% | ||
| Q2 25 | — | 50.0% | ||
| Q1 25 | — | 47.3% | ||
| Q4 24 | — | 47.4% | ||
| Q3 24 | — | 50.4% | ||
| Q2 24 | — | 52.8% | ||
| Q1 24 | — | 52.5% |
| Q4 25 | -142.4% | 33.5% | ||
| Q3 25 | 4.7% | 32.4% | ||
| Q2 25 | 5.8% | 28.9% | ||
| Q1 25 | 1.7% | 29.6% | ||
| Q4 24 | 4.9% | 27.0% | ||
| Q3 24 | 12.1% | 29.1% | ||
| Q2 24 | 13.4% | 21.6% | ||
| Q1 24 | 12.9% | 29.5% |
| Q4 25 | -143.3% | 26.0% | ||
| Q3 25 | 4.3% | 26.3% | ||
| Q2 25 | 3.5% | 20.0% | ||
| Q1 25 | 1.1% | 21.0% | ||
| Q4 24 | 4.2% | 17.7% | ||
| Q3 24 | 8.4% | 20.7% | ||
| Q2 24 | 9.9% | 14.4% | ||
| Q1 24 | 9.9% | 21.9% |
| Q4 25 | $-12.98 | $2.97 | ||
| Q3 25 | $0.40 | $2.85 | ||
| Q2 25 | $0.33 | $2.23 | ||
| Q1 25 | $0.09 | $2.37 | ||
| Q4 24 | $0.36 | $1.85 | ||
| Q3 24 | $0.74 | $2.07 | ||
| Q2 24 | $0.85 | $1.33 | ||
| Q1 24 | $0.83 | $1.96 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $133.2M | $2.3B |
| Total DebtLower is stronger | $2.5B | $1.4B |
| Stockholders' EquityBook value | $1.9B | $5.1B |
| Total Assets | $5.5B | $9.3B |
| Debt / EquityLower = less leverage | 1.28× | 0.28× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $133.2M | $2.3B | ||
| Q3 25 | $118.7M | $1.5B | ||
| Q2 25 | $131.4M | $1.5B | ||
| Q1 25 | $91.2M | $1.2B | ||
| Q4 24 | $76.3M | $1.0B | ||
| Q3 24 | $82.1M | $763.2M | ||
| Q2 24 | $77.2M | $698.3M | ||
| Q1 24 | $77.3M | $595.1M |
| Q4 25 | $2.5B | $1.4B | ||
| Q3 25 | $2.3B | $1.4B | ||
| Q2 25 | $2.3B | $1.4B | ||
| Q1 25 | $2.2B | $1.4B | ||
| Q4 24 | $2.0B | $1.4B | ||
| Q3 24 | $1.9B | $1.4B | ||
| Q2 24 | $1.8B | $1.4B | ||
| Q1 24 | $1.9B | $1.4B |
| Q4 25 | $1.9B | $5.1B | ||
| Q3 25 | $3.1B | $4.9B | ||
| Q2 25 | $3.1B | $4.7B | ||
| Q1 25 | $3.0B | $4.5B | ||
| Q4 24 | $3.1B | $4.3B | ||
| Q3 24 | $3.0B | $4.2B | ||
| Q2 24 | $3.0B | $4.0B | ||
| Q1 24 | $2.9B | $4.0B |
| Q4 25 | $5.5B | $9.3B | ||
| Q3 25 | $6.4B | $9.1B | ||
| Q2 25 | $6.3B | $9.0B | ||
| Q1 25 | $6.1B | $8.7B | ||
| Q4 24 | $6.0B | $7.8B | ||
| Q3 24 | $5.9B | $8.7B | ||
| Q2 24 | $5.7B | $9.3B | ||
| Q1 24 | $5.5B | $8.2B |
| Q4 25 | 1.28× | 0.28× | ||
| Q3 25 | 0.74× | 0.30× | ||
| Q2 25 | 0.74× | 0.31× | ||
| Q1 25 | 0.72× | 0.32× | ||
| Q4 24 | 0.64× | 0.34× | ||
| Q3 24 | 0.62× | 0.34× | ||
| Q2 24 | 0.62× | 0.36× | ||
| Q1 24 | 0.65× | 0.36× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-86.3M | $352.1M |
| Free Cash FlowOCF − Capex | $-179.5M | $332.1M |
| FCF MarginFCF / Revenue | -21.8% | 27.6% |
| Capex IntensityCapex / Revenue | 11.3% | 1.7% |
| Cash ConversionOCF / Net Profit | — | 1.12× |
| TTM Free Cash FlowTrailing 4 quarters | $-439.9M | $1.7B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-86.3M | $352.1M | ||
| Q3 25 | $73.2M | $153.9M | ||
| Q2 25 | $133.5M | $333.7M | ||
| Q1 25 | $11.5M | $912.9M | ||
| Q4 24 | $116.7M | $-710.4M | ||
| Q3 24 | $163.1M | $-578.5M | ||
| Q2 24 | $171.1M | $1.5B | ||
| Q1 24 | $-321.3M | $895.6M |
| Q4 25 | $-179.5M | $332.1M | ||
| Q3 25 | $-63.0M | $137.9M | ||
| Q2 25 | $-34.2M | $313.4M | ||
| Q1 25 | $-163.2M | $898.2M | ||
| Q4 24 | $-86.8M | $-734.2M | ||
| Q3 24 | $-27.1M | $-590.5M | ||
| Q2 24 | $16.9M | $1.5B | ||
| Q1 24 | $-463.7M | $888.3M |
| Q4 25 | -21.8% | 27.6% | ||
| Q3 25 | -7.4% | 12.1% | ||
| Q2 25 | -3.9% | 26.7% | ||
| Q1 25 | -21.2% | 75.2% | ||
| Q4 24 | -11.2% | -66.3% | ||
| Q3 24 | -3.3% | -55.9% | ||
| Q2 24 | 2.1% | 151.6% | ||
| Q1 24 | -60.4% | 92.8% |
| Q4 25 | 11.3% | 1.7% | ||
| Q3 25 | 16.0% | 1.4% | ||
| Q2 25 | 19.3% | 1.7% | ||
| Q1 25 | 22.7% | 1.2% | ||
| Q4 24 | 26.3% | 2.1% | ||
| Q3 24 | 23.3% | 1.1% | ||
| Q2 24 | 19.4% | 1.8% | ||
| Q1 24 | 18.5% | 0.8% |
| Q4 25 | — | 1.12× | ||
| Q3 25 | 2.02× | 0.51× | ||
| Q2 25 | 4.43× | 1.42× | ||
| Q1 25 | 1.37× | 3.64× | ||
| Q4 24 | 3.58× | -3.62× | ||
| Q3 24 | 2.39× | -2.65× | ||
| Q2 24 | 2.18× | 10.64× | ||
| Q1 24 | -4.21× | 4.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ACHC
| Acute Inpatient Psychiatric Facilities | $451.2M | 55% |
| Comprehensive Treatment Centers | $144.2M | 18% |
| Medicare | $113.7M | 14% |
| Residential Treatment Centers | $89.7M | 11% |
| Self Payor | $16.1M | 2% |
| Other Payor | $10.7M | 1% |
CBOE
| Liquidity Payments | $443.6M | 37% |
| Cash And Spot Markets | $431.3M | 36% |
| Transferred Over Time | $84.3M | 7% |
| Market Data Fees | $82.7M | 7% |
| Royalty Fees | $68.9M | 6% |
| Futures | $36.1M | 3% |
| Global FX | $24.4M | 2% |
| Other Revenue | $23.1M | 2% |
| Routing And Clearing | $20.1M | 2% |
